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Union Railway Minister, Suresh Prabhu, presents his maiden budget on 26 Feb 15 A few thoughts: If Suresh Prabhu’s first three months in Rail Bhawan are any indication to go by, the minister’s maiden railway budget on Thursday will be a mission document given PM NaMo's focus on reforming the railways. NaMo had reiterated this intent 25 Dec 14 in Varanasi, his constituency while inaugurating…
Union Finance Minister, Arun Jaitley, will present India's Union Budget FY 2016 on 28 Feb 15 A) Broad Budget Math: Current Year Budgeted Fiscal Deficit - 4.1% (Market will expect this number to come) Total receipts is likely to be 9.4% and expenditure will be about 13.5% of GDP. 2) FY 2016     Revenue: Next year expected Fiscal Deficit to fall to 3.6%, assuming…
Quick summary of the points made by JP Morgan’s Adrian Mowatt India offers the prospect of accelerating earnings growth with low inflation. It is a growth-oriented market and the medium-term outlook is attractive. Indian government debt has the potential for an upward re-rating with the prospect of accelerating earnings growth. The re-rating drivers mainly are the high GDP growth expectations, low inflation rates combined with…
Indian companies are expected to issue more corporate bonds in 2015 and are projected to surpass 2013 and 2014 levels, with a number of new issuers entering the market space.   According to Thomson Reuters data, Indian firms have raised US$5.40 billion* through short and long-term corporate debt in a little over a month and a half this year and are well on their way…
India's foreign exchange reserves have hit a new high, rising by approximately US$2.956 billion to USD 333.169 billion** in the week of February 13th, 2015, with the help of healthy increases in foreign currency assets. In the previous week, the reserves had increased by US$2.329 billion to USD 330.213 billion.** According to analysts, India now has foreign reserves to cover its import bill for almost…
India’s Fiscal 2016 budget, to be presented on February 28th, 2015, is being regarded as the most important budget for its stock market since the early 1990s when the country first embarked on its economic liberalization program. Given that this is the country’s first full-year budget under the Modi administration, investors will be using it as a gauge to measure the government’s reform momentum. As…
Emerging markets play a large role on the global economic stage Improve your portfolio performance with Emerging Markets! Why Indian stocks keep soaring as optimism surges over the country’s growth potential EXCEL INDIA FUND Reforms can go a long way in boosting the equity values of two of the world’s fastest growing consumer markets - India and China EXCEL CHINDIA FUND Emerging market bonds is…
What makes Michael Bloomberg, Billionaire & Ex Mayor, New York City, so positive on India: His Story Union Budget 2015-16 : Expectations building up! India Ratings Upgrade & Growth Prospects - Thoughts from Robert Parker, Advisor, Credit Suisse Bharat Forge & Israel's Rafael sign a Joint Venture Agreement for Defence Production in India 1) Michael Bloomberg: The story in his words (Link to original post…
While companies in developed countries continue to focus on rationalizing costs, Korean conglomerates plan to spend 34.4 trillion won (USD31 billion) building new plants and expanding capacity domestically in 2015.  The largest investment will be Samsung Electronics building a new semiconductor production line in Pyeongtaek for 15.6 trillion won. This capital spending will be positive for job creation and income growth in Korea. http://english.hankyung.com/news/apps/news.view?c1=04&nkey=201502121753311  …
In a recent interview in “Les Affaires”, Sergei Strigo, portfolio manager of the Excel High Income Fund, discusses his preference for emerging market bonds denominated in US dollars and Euros because of the attractive yields.  One of his preferred regions is Eastern Europe. Within Eastern Europe, Sergei discusses owning Russian bonds, which are very attractively priced, because the Russian government actually has very strong foreign…
90% of the world’s rough diamonds by volume and 65% of world’s diamonds by value are processed in India. The stone are brought in regular auctions at global diamond centers. India has just recently established a new auction facility in Mumbai made possible by reforms made by Prime Minister Narendra Modi. Strict restrictions on import and export of diamonds are to be relaxed, allowing foreign…
Year of the Goat: top managers on what to watch out for in China Goats can be stubborn but are also known for being tenacious, determined and sure-footed. Will Chinese market prove to be home to the same attributes in the 'Year of the Goat'? Citywire Global has collated the views of four leading Chinese equity managers to get their outlook for year ahead and…

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